March 23, 2010
Two Senate Banking Committee Amendments to Dodd’s Bill
– Broc Romanek, CompensationStandards.com
Following up on my blog this morning about the Dodd bill passing the Senate Banking Committee, I forgot to mention that there were two corporate governance amendments that made it into the Manager’s Amendment on the Dodd bill, both offered by Sen. Menendez (D-NJ):
– Require issuer disclosure of the ratio of average worker pay to CEO compensation
– Prohibit broker discretionary voting in advisory votes on executive compensation
And speaking of pay disparity, as a follow-up to my blog on the recent spate of shareholder proposals on pay disparity, it appears that the SEC Staff is rejecting requests from companies to exclude them under Rule 14a-8, as noted in this Reuters’ article.